French football club, Nice has been purchased by British billionaire Sir Jim Ratcliffe, who is the chairman, and chief executive officer of the Ineos chemicals group.
The 66-year-old chemical engineer turned financier and industrialist who has an £18.664 billion fortune was on Monday (August 26) given the all-clear to seal the reported £91m deal with Nice's Sino-American owners by the French Competition Authority.
In a statement on Nice's official website, INEOS president Ratcliffe said: "With some sensible, measured investment, we want to establish Nice as a team that competes in European club competition on a regular basis. And importantly, sustain it.
"Nice has a great history and tradition, with a passionate fanbase whom will play an important role in our journey.
"We made some mistakes at Lausanne, but we are fast learners. These have been rectified and we are already seeing the benefits.
"Clubs need to be successful off the pitch, as well as on it, and Nice will be no different, as we look to take the club from strength to strength in all aspects over the coming years."
He said he and Ineos were fast learners.
'We made some mistakes at Lausanne...but these have been rectified and we are already seeing the benefits.'
With this latest purchase, Ratcliffe adds to a sports portfolio that already includes the UCI World Tour cycling outfit formerly known as Team Sky and Swiss club Lausanne-Sport.
Ratcliffe's brother Robert is scheduled to give a press conference on Tuesday, August 27, 2019.
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